The work aims to develop a TiAlCN coating with low friction coefficient, high hardness, high elastic modulus and high wear resistance. TiAlCN coatings with different carbon contents were deposited on the F690 steel by multi-arc ion plating system. The structure, hardness, elastic modulus, friction and wear resistance and wear track morphology of the coating were analyzed by scanning electron microscope (SEM), laser scanning confocal microscope, Raman spectrometer, transmission electron microscopy (TEM), X-ray diffractometer (XRD), X-ray photoelectron spectrometer (XPS), Nano indentation instrument, reciprocating friction and wear instrument and step profiler. The carbon content had a great effect on the structure, hardness and tribocorrosion property of TiAlCN coating. The roughness of the coating increased gradually with the increase of the carbon content in the coating. In addition, the coating was composed of fcc-TiN, fcc-TiC and hcp-AlN. With the increase of carbon content in the coating, the crystal orientation of the coating changed from (111) to (200), the amorphous carbon increased and the nano-hardness and the elastic modulus of the coating decreased. TiAlC80N320 with carbon content of 15.57wt.% had the hardness and elastic modulus of 36.21 GPa and 430.15 GPa, respectively. TiAlC80N320 coating had the lowest wear rate under dry friction, which was 2.85×10–6 mm3/(N.m). While TiAlC160N320 coating had the lowest friction coefficient, but the highest wear rate of 2.85×10–6 mm3/(N.m). The carbon content will result in the increase of amorphous content, but the hardness, elastic modulus and wear resistance of the coating decrease accordingly, and the friction coefficient of the coating is significantly reduced.